Whether you are a Buyer, Intermediary, Seller’s Rep, Mandate or Provider and have been in the MTN or BG business for a short time or even a few years, you can all probably agree that the “Matching Up” of True Buyers to Real Sellers is a task all in itself.
How many finders have we all spoken to in our time? How many Procedures have we gone through? How many Mandates have we met? How many Sellers have hung up on the other line during that all important conference call? How many times have we struggled countless hours only to be left with a ton of wasted hours without a paycheck?
This, in a nutshell, is the Private MTN & BG Trading Business. In fact, throughout the United States and abroad are thousands and thousands of participants, just like ourselves, trying to claim their multi-million dollar commission from that ONE DEAL. Just like that “Big One” that got away, we all continue to tell the stories of how we were “that close”, “if only” and “maybe next time”.
The harsh reality is that without a serious game plan and a change from that viscous circular strategy will we ever be able to significantly place the odds of closing a deal on our side. If you really take the time to review this business from the “outside looking in” you will more than likely agree that this industry is governed by the 99/1 Rule. More specifically, 99% of all the Intermediaries barely, if even, make 1% of the money and the remaining 1% of the players make 99% of the pot.
So, what is the solution?
We operate, our business, with the utilization of approximately 15 basic Techniques, here are 4 of them:
Technique # 1: Avoid the daisy chain. This is not to say that intermediaries are bad people, in fact, overall they are some of the nicest people I have ever been privileged to meet. The true problem lies in the Quantity of individuals involved in the transaction. You see, any experienced finder will tell you that Buyer’s and Seller’s don’t like a lot of intermediaries in the middle. Secondly, the multitude of opinions, generated by finders, unfortunately tend to get in the way of the deal making, i.e., arguing over buyer side boxes and interfering with the buyer/seller transaction, these are the typical “Deal Breaker’s” you will find in the infamous Daisy Chain.
Technique # 2: You MUST establish a direct relationship with a seller. As this is not an easy task, the next best option is to establish a business relationship with a Reputable MTN & BG Group that already has a Direct Connection to specific mandates and sellers. However, keep in mind that it is critical that the people you select to partner with, have a functional day to day working relationship with their provider/mandate or seller’s representative. This is crucial to making the transaction as deals will fall apart due to lack of chemistry and personal relationships. The person you choose must have strong ties with their connection, period. It is very important to note that establishing strategic working relationships with people you are comfortable with is essential to your success. In other words, DO NOT do business with people that you don’t get along with or, just plain, DO NOT LIKE. The bottom line is that this business is all about three things, Relationships, Relationships and Relationships.
Technique # 3: Once a buyer and seller are introduced, GET OUT OF THE WAY. Believe it or not buyers and seller’s can and will get very irritated by the ongoing questions you ask, like, “Is it funded yet?” This question is akin to a child asking, “So are we there yet?” If you want to get paid, realize you must know when to keep yourself in check and let the deal follow its own course. In short, if a genuine relationship truly exists between you and the other ready, willing and able parties, the deal will close.
Technique # 4: Don’t get greedy. While we agree that “Greed is Good” – we must stress that it is prudent to be flexible with fellow transaction participants. Always remember that you are not the only party to the transaction. Giving Respect to all the players’ increases the odds’ of you closing and staying in the deal.
So there you have it. It doesn’t sound too difficult, right? The truth is that it really is that simple if we all decide to leave our egos, attitudes and greed at the door. The question is, can we do it?
About the Author:
Www.SuperPrivateMoney.com currently represents a select group of private clients who professionally acquire Medium Term Notes and Bank Guarantee’s on a consistent basis. Our Private clients enjoy the efficiency and success of Www.SuperPrivateMoney.com’s exclusive relationships with genuine MTN and BG providers.
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Disclaimer: The Article above is specifically provided as an informational tool and is based on the opinions of the Authors of the SuperPrivateMoney.com web site. The Authors are in no way making any claims of being experts to any industry, they are merely stating their opinion of their personal understanding of a specific business. The above content is not an advertisement or a solicitation and therefore should not be construed as such.
SuperPrivateMoney.com, a division of Monterey Finance, is not a United States Securities Dealer, Broker or Investment Advisor. We make no warranties or representations as to the Buyer, Seller or Transaction. Monterey Finance may be a licensed agent or broker by the Department of Real Estate but is not acting within that capacity. All due diligence is the responsibility of the Buyer and Seller
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